BADM 101 EXAM 3 UPDATED ACTUAL QUESTIONS
AND CORRECT ANSWERS
Question:
1. Marketing
Answer:
Organizational function and a set of processes for creatin, communicating, and
delivering value to customers and for managing customer relationships in ways
that benefit the organization and its stakeholders
Question:
2. Utility types
Answer:
form, time, place, ownership
Question:
3. Form utility
Answer:
satisfies wants by converting inputs into finished form
Question:
4. Time utility
Answer:
satisfies wants by providing goods and services at a convenient time for
customers
Question:
5. Place utility
Answer:
satisfies wants by providing goods and services at a convenient place for
customers
Question:
6. Ownership utility
Answer:
satisfies wants by smoothly transferring ownership of goods and services from
seller to buyer
, Question:
7. Areas of scope marketing
Answer:
People, place, event, idea
Question:
8. Customer relationship management
Answer:
Ongoing process at acquiring, maintaining, and growing profitable customer
relationships by delivering unmatched value
Question:
9. Customer satisfaction
Answer:
when customers perceive that a good or service delivers value above and
beyond their expectations
Question:
10. when customers buy a product from the same supplier again and again,
sometimes paying even more for it than they would for a competitive product
Answer:
Customer loyalty
Question:
11. Consumer marketers
Answer:
marketers who direct their efforts toward people who are buying products for
personal consumption (B2C)
Question:
12. Business marketers
Answer:
marketers who direct their efforts toward people who are buying products to use
either directly or indirectly to produce other products (B2B)
Question:
13. Marketing mix
Answer:
the blend of marketing strategies for product, price, distribution, and promotion
AND CORRECT ANSWERS
Question:
1. Marketing
Answer:
Organizational function and a set of processes for creatin, communicating, and
delivering value to customers and for managing customer relationships in ways
that benefit the organization and its stakeholders
Question:
2. Utility types
Answer:
form, time, place, ownership
Question:
3. Form utility
Answer:
satisfies wants by converting inputs into finished form
Question:
4. Time utility
Answer:
satisfies wants by providing goods and services at a convenient time for
customers
Question:
5. Place utility
Answer:
satisfies wants by providing goods and services at a convenient place for
customers
Question:
6. Ownership utility
Answer:
satisfies wants by smoothly transferring ownership of goods and services from
seller to buyer
, Question:
7. Areas of scope marketing
Answer:
People, place, event, idea
Question:
8. Customer relationship management
Answer:
Ongoing process at acquiring, maintaining, and growing profitable customer
relationships by delivering unmatched value
Question:
9. Customer satisfaction
Answer:
when customers perceive that a good or service delivers value above and
beyond their expectations
Question:
10. when customers buy a product from the same supplier again and again,
sometimes paying even more for it than they would for a competitive product
Answer:
Customer loyalty
Question:
11. Consumer marketers
Answer:
marketers who direct their efforts toward people who are buying products for
personal consumption (B2C)
Question:
12. Business marketers
Answer:
marketers who direct their efforts toward people who are buying products to use
either directly or indirectly to produce other products (B2B)
Question:
13. Marketing mix
Answer:
the blend of marketing strategies for product, price, distribution, and promotion
